{"id":3321,"date":"2024-04-15T16:30:03","date_gmt":"2024-04-15T15:30:03","guid":{"rendered":"https:\/\/blog.citrus-lime.com\/peak\/?page_id=3321"},"modified":"2024-04-29T11:27:42","modified_gmt":"2024-04-29T10:27:42","slug":"cycle-to-work-scheme","status":"publish","type":"page","link":"https:\/\/blog.citrus-lime.com\/peak\/cycle-to-work-scheme\/","title":{"rendered":"CYCLE TO WORK SCHEME"},"content":{"rendered":"\n
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<\/div>\n\n\n\n
\"cycle<\/figure>\n<\/div>\n\n\n\n
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Spread the cost of your new bike with our Cycle to Work Scheme, so you can get the kit you want at a price that\u2019s even sweeter.\u00a0<\/p>\n\n\n\n

Save up to 47% on the bike (plus kit and accessories!) when you make a purchase through one of our cycle to work schemes.<\/strong><\/p>\n\n\n\n

We partner with these providers: <\/p>\n\n\n\n

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– Bike2Work: Bike 2 Work Scheme<\/p>\n\n\n\n

– Cyclescheme: MySchemes Employer Extranet<\/p>\n\n\n\n

– Cycle solutions: Cycle Solutions<\/p>\n\n\n\n

– Green commute initiative:<\/p>\n\n\n\n

– VIVUP<\/p>\n\n\n\n

– Gogeta<\/p>\n<\/div>\n\n\n

\n\t\t\t\n\t\t\t\t
\n\t\t\t\t\tBROWSE BIKES<\/span>\n\t\t\t\t<\/div>\n\t\t\t<\/a>\n\t\t<\/div><\/div><\/div>\n<\/div>\n\n\n\n
<\/div>\n\n\n\n
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MAKE A SAVING OF UP TO 47%<\/h2>\n\n\n\n

Get your dream bike and all the gear at a more affordable price, and spread the cost of it, too. <\/p>\n<\/div><\/div>\n\n\n\n

<\/div>\n\n\n\n

Cycle to Work Scheme Explained<\/h2>\n\n\n\n

In theory, your employer buys a bike for you to ride to work on while you \u2018hire\u2019 it through salary sacrifice, allowing you to save money by not paying tax and National Insurance contributions on the monthly fee.<\/p>\n\n\n\n

In other words, the salary sacrifice is made from your gross salary, not your net salary. Whether you shop online or in-store, you get to pay for your bike in monthly instalments through your pay packet at a discounted rate. Sounds great right?<\/p>\n\n\n\n

At the end of the \u2018hire\u2019 period, you have the opportunity to buy the bike from your employer for a nominal fee.<\/p>\n\n\n\n

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Cycle Scheme FAQs<\/h2>\n\n\n
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What is the Cycle to Work Scheme?<\/strong><\/p>\n\t\t\t

<\/span><\/div>\n\t\t<\/div>\n\t\t\t
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Cycle to Work is a scheme that means you get a bike at a discounted rate through your employer where you pay monthly for your bike. <\/p>\n\n\n\n

The scheme is to encourage green travel and to boost wellbeing.\u00a0<\/p>\n\n\n\n

Cycle to work schemes allow you to make a tax-free purchase, saving up to 47%, by paying for the bike or eBike and accessories out of your pre-tax salary. <\/p>\n\n\n\n

This being a salary sacrifice scheme, the payments are taken out of your salary over an extended period (usually 12 months or longer in some cases) meaning you get to spread the cost of your bike, and the kit too!<\/p>\n\n\n\n

<\/p>\n\n<\/div>\n\t\t<\/div>\n\n

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How does the Cycle to Work Scheme work at PAU?<\/strong><\/p>\n\t\t\t

<\/span><\/div>\n\t\t<\/div>\n\t\t\t
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Enjoy the Benefits of the Cycle to Work Scheme at PAU…<\/h2>\n\n\n\n

Check your employer is signed up to the scheme to and get your certificate voucher from them directly. <\/p>\n\n\n\n

Have browse of the range of bikes we have available<\/span><\/strong><\/a> and you can choose whether you’d like to order your bike online or come and see us in store…<\/p>\n\n\n\n

Shopping Online?<\/h2>\n\n\n\n

Find your perfect bike at PAU.CO.UK<\/span><\/strong><\/a> and simply select “Pay with CycleScheme” at checkout. You will be asked for your certification code and redemption code and click “Place CycleScheme Order”.<\/p>\n\n\n\n

Want to Shop In Store?<\/h2>\n\n\n\n

Pop in-store or give us a call to let us know which bike takes your fancy. Provide your Cycle to Work certificate, and we will get your bike just right.<\/p>\n\n\n\n

Whether you shop online or in-store, you get to pay for your bike in monthly instalments through your pay packet at a discounted rate. It’s as simple as that!<\/p>\n\n<\/div>\n\t\t<\/div>\n\n

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Who owns the bike at the end of the Cycle to Work Scheme?<\/strong><\/p>\n\t\t\t

<\/span><\/div>\n\t\t<\/div>\n\t\t\t
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Because you have technically hired the bike from the scheme for the length of your agreement, you are left with a few options at the end of it:<\/p>\n\n\n\n

    \n
  1. Enter into a new agreement, paying a small deposit to rehire the bike<\/li>\n\n\n\n
  2. Buy the bike from the scheme<\/li>\n\n\n\n
  3. Give the bike back<\/li>\n<\/ol>\n\n\n\n

    Under HMRC rules, when buying the bike back at the end of the term you need to make a one-off payment to the scheme provider.<\/p>\n\n\n\n

    This will depend on the initial value of the bike and how long you\u2019ve been using it.<\/p>\n\n\n\n

    Here\u2019s a table of the minimum value HMRC places on a used bike of different ages:<\/p>\n\n\n\n

    \ufeffAge of bike<\/th>If original price is less than \u00a3500<\/th>If original price is over \u00a3500<\/th><\/tr><\/thead>
    1 year<\/td>18%<\/td>25%<\/td><\/tr>
    4 years<\/td>3%<\/td>7%<\/td><\/tr>
    6 years or more<\/td>0%<\/td>0%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    Providers won\u2019t usually extend the agreement beyond a specified term. Even if you keep the bike until it\u2019s worth zero, you\u2019ll probably have to make a nominal payment to the provider to assume ownership.<\/p>\n\n<\/div>\n\t\t<\/div>\n\n

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    What sort of bike can I get on the Cycle to Work scheme?<\/strong><\/p>\n\t\t\t

    <\/span><\/div>\n\t\t<\/div>\n\t\t\t
    \n\n

    All bikes that could be deemed for work travel purposes. <\/p>\n\n\n\n

    If you have questions, please speak to a member of the team and we can look into it for you.\u00a0<\/p>\n\n<\/div>\n\t\t<\/div>\n\n

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    Can my Cycle to Work Scheme certificate expire?<\/strong><\/p>\n\t\t\t

    <\/span><\/div>\n\t\t<\/div>\n\t\t\t
    \n\n

    Yes. You have 3 months to redeem the certificate from it being issued, so get your skates, or your wheels, on, and come and see us or arrange delivery.\u00a0<\/p>\n\n<\/div>\n\t\t<\/div>\n\n

    \n\t\t\t
    \n\t\t\t

    Can I use my Cycle to Work certificate at PAU.CO.UK<\/strong>?<\/p>\n\t\t\t

    <\/span><\/div>\n\t\t<\/div>\n\t\t\t
    \n\n

    Yes! You can now redeem your CycleScheme voucher online with us. <\/p>\n\n\n\n

    Simply click <\/span><\/strong><\/a>here<\/span><\/strong><\/a> to shop, and select “Pay With CycleScheme” at checkout. <\/p>\n\n<\/div>\n\t\t<\/div>\n<\/div>\n\n\n

    <\/div>\n\n\n\n
    \n
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    SHOP BIKES<\/h3>\n\n\n\n

    Shop our range of bikes to suit all riders. Whether you ride road, gravel, trails or through the mountains, we’ve got the best kit from top brands all available at PAU. <\/p>\n\n\n\n

    BROWSE THE RANGE<\/sup><\/sub><\/a><\/p>\n<\/div><\/div>\n\n\n\n

    <\/p>\n<\/div>\n\n\n\n

    \n
    \n

    FIND YOUR NEAREST STORE<\/h3>\n\n\n\n

    Want to speak to an expert member of out team? Pop in store!<\/p>\n\n\n\n

    We have three PAU Run & Ride stores across Staffordshire and Cheshire. <\/p>\n\n\n\n

    FIND YOUR LOCAL PAU<\/sup><\/sub><\/span><\/a><\/p>\n<\/div><\/div>\n<\/div>\n\n\n\n

    \n
    \n

    SHOP OUTLET<\/h3>\n\n\n\n

    The kit you love at a price you\u2019ll love even more. <\/p>\n\n\n\n

    Here you\u2019ll find past season kit, at a really nice price. <\/p>\n\n\n\n

    MAKE A SAVING<\/a><\/sup><\/sub><\/span><\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Spread the cost of your new bike with our Cycle to Work Scheme, so you can get the kit you want at a price that\u2019s even sweeter.\u00a0 Save up Keep 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